We’d like to share with you data on the potential of the road blocker market in the coming years. According to a report by MarketsandMarkets™, the global physical security market size, which includes physical barriers, was valued at USD 93.5 billion in 2020 and is projected to reach USD 120.3 billion by 2025, growing at a CAGR of 5.2% during the forecast period.
The report also states that the demand for physical barriers, particularly in the government and public sector, is increasing due to the rising need for secure access control and perimeter security. The demand for physical barriers is also growing in the commercial sector, including retail, banking, and healthcare industries.
In terms of the type of physical barriers, the demand for bollards is expected to grow at a higher rate compared to other types of barriers due to their versatility and ability to blend in with the surrounding environment. Additionally, the demand for retractable bollards is expected to grow at a higher rate compared to fixed bollards due to their flexibility and ease of use.
Overall, the physical barriers market is expected to continue to grow in the coming years due to the increasing need for security and the growing use of advanced technologies in the security industry.